Croatia’s Span cons net profit falls 81% in 2023

The decline was driven by higher depreciation reflecting procurement of equipment for more employees in the prior year, and depreciation of the long-term intangible assets related to allocation of initially recognised goodwill after the acquisitions of Croatian IT company Ekobit and Estonia’s GT Tarkvara, it said in a filing to the Zagreb bourse.

Span acquired GT Tarkvara last year and Ekobit in 2022.

EBITDA after one-offs decreased 25% to 7.1 million euro.

In 2023, operating revenue increased 30% on the year, reaching 142.8 million euro.

The shares of Span traded 5.88% lower at 48 euro on Thursday afternoon, Zagreb bourse data showed. They are part of both main equity indices of the Zagreb Stock Exchange.

($ = 0.922 euro)